Security Centre one of Cayman’s largest security firms is facing possible closure. That’s if shareholder Adrien Briggs receives what he is hoping for from his winding up petition filed in Grand Court last week.
The 16-page court action makes a series of allegations against the firm. In the lawsuit Mr. Briggs, a founding member of the company, says he transferred ten of his shares to his daughter Katherine who was appointed a director. However, he contends Stuart Bostock, another major shareholder, blocked her from the day-to-day running of the firm.
Mr. Briggs also claims he forked out hundreds of thousands of dollars to bolster the company. He’s seeking the return of those funds and the closure of operations.